On 31 May 2022, Jupiter's closing inventory count was valued at a cost of $750,000. This included some items of inventory which had a cost of $180,000 but had been damaged in a fire on 10 April 2022. Consequently, these items are not expected to achieve their normal selling price which is calculated to achieve a gross profit margin of 25%. These damaged items require repairs at a cost of $105,000 to be sold. Calculate the revised closing inventory value of Jupiter to be reported in the statement of financial position at the year ended 31 May 2022. O $615,000 $690.000 O$570,000 O $705,000